Dhaka, Bangladesh (BBN) – The BBN (Bangladesh Business News) has prepared the morning business round up compiling reports, published by different newspapers and news portals in Bangladesh.
FY19 starts today with polls-centric economic challenges
Financial year 2018-2019 begins today with a number of challenges for the government in economic front including election-centric sluggishness of private and foreign investment amid political uncertainty, rising defaulted loans in scam-plagued financial sector and achieving a large revenue collection target. The national elections is likely to be held in first half of the FY19, most likely in December, which may bring another dimension to the already sluggish investment from private sector and foreign sources, economists say.
Stock Market in FY18: An eventful year; Investors left unhappy
The outgoing fiscal year has been an eventful year for the stock market with national elections right around the corner. Several significant landmarks have been achieved throughout the year followed by many other macroeconomic changes that gripped investors’ confidence.
Foreign funds fall further in DSE
Net foreign investment in the Dhaka Stock Exchange fell to Tk 207 crore in the negative in June because of fears over political uncertainty in the run up to national election at the year-end. Foreign investors bought shares worth Tk 446 crore and sold securities worth Tk 653 crore, according to data from the premier bourse.
Bangladesh Bank sells US$2.31bn to banks in FY18
The central bank of Bangladesh sold US$2.31 billion to the scheduled banks directly in the just-concluded fiscal year to keep the market stable. “We’ve sold the foreign currency to the banks to meet the growing demand for the greenback in the market during the period under review,” a senior official of the Bangladesh Bank (BB) told the BBN in Dhaka.
BD ‘biggest dumping ground’ for old ships
Bangladesh remains one of the world’s biggest dumping grounds for worn-out vessels, despite growing concerns about the environmental and labour standards of the ship-breaking industry. The country scrapped about one-fourth of the total ships dismantled worldwide in 2017, according to a recent report of Shipbreaking Platform, a campaign group.
Bangladesh’s stocks end lower last week of FY18
Bangladesh’s stocks ended the last week of outgoing fiscal year ended lower that ended on Thursday. The benchmark index of the Dhaka Stock Exchange (DSE) lost 251 points or 4.44 percent in the Fiscal Year (FY) 2017-18.
BTRC mulls setting price range of internet
After the imposition of cap on pay-per-use internet tariff, Bangladesh Telecommunication Regulatory Commission is likely to set a range of internet price with a view to making internet more affordable to the users. A senior official of the commission told New Age that the commission would take initiative soon in this regard.
Businesses ride out downturn
Just as Bangladesh’s main export earner, the apparel sector, was slowly recovering from the twin industrial disasters of Rana Plaza collapse and Tazreen Fashions fire that another misfortune befell: the terrorist attack in the Holey Artisan Bakery on July 1, 2016.